It cost money to own a house and people normally allocate a percentage of the revenue towards repair, capex, vacancy and property management.

Partner Driven financed the Wall Canyon Ct deal using its own capital, covering the $205,000 purchase price and $50,000 in renovation costs.

It will likely cost you more than 10% if you try to replicate this process.

It used to be an Oldsmobile cost more than a Chevy but you got a few extra do dads on it, a little bit more plush for the extra money.

And even if the ADU was on your side the cost and time to do it is such a waste when there are some many other buildings/deals in Chicago. 

Clackamas county (slightly less expensive) or Washington county (intel,Nike,Apple,Microsoft) these tech companies have increased the cost of living and house prices  (it’s higher than downtown pdx) but the neighborhoods are good and safe. 

The next steps will involve accurate construction cost estimates by a licensed contractor (or two) and connecting with a lender (possibly current local bank) for construction financing.

We are at likely record high price to rent ratios (like much of the country) without much upside on rent growth in the mid-term paired with steeply rising taxes, financing, and insurance costs.

I'll be asking the tax office tomorrow as well when I go to research the properties, and anyone who will give me the time of day at the auction - even if it costs me buying their lunch and a couple drinks😂.And with regard to the rules/law, that's what predicated my initial question, it's so simple and clear I assumed I must be misunderstanding (quite the paradox). 

This isn't a competition for me.